Finsall Resources Pvt Ltd, which operates an eponymous insurance-technology startup focussed on making insurance accessible for different segments, has raised Rs 2.4 crore ($328,188) in seed capital.
The round in the Bengaluru-based startup has been led by Unicorn India Ventures, a Mumbai-based firm that is currently investing out of its second fund. Unicorn India has also invested in another insurance-tech firm, Fedo, through this vehicle.
Other participants in this round include the SEA Fund, SupplyAI chief executive officer Karthik Sridhar, and angel investor Tirumala Gudla. Finsall will use the capital it has raised to strengthen its presence in Tier-I cities and expand to Tier-II locations to leverage growing demand there.
Finsall was set up in 2018 by Promod Khanna, Tim Mathews, and Prabal Khanna. The company says its platform provides end-to-end support and service of insurance premium financing for customer segments including individuals, households, and enterprises.
Other companies in the insurance-tech space that have raised funding in recent months include Artivatic.ai, Plum Benefits, and online insurer Acko.
iMumz, a pregnancy-focussed health-technology startup, has raised Rs 2.2 crore (a little over $300,000) in a funding round from a few investment firms.
Participants in this round include healthcare-focussed Enzia Ventures; Titan Capital, the firm set up by Snapdeal co-founders Kunal Bahl and Rohit Bansal; and early-stage platform AngelList.
iMumz, operated by Pruoo Healthcare Technologies Pvt Ltd, was set up by Ravi Teja Akondi, Mayur Dhurpate, Rajesh Jagasia, and Jaideep Malhotra.
The company says its app offers expectant mothers features such as exercise, diet and nutrition-related services, with a focus on stress reduction and bonding with their child.
It also operates a chat engine that allows users to speak with doctors. iMumz says it is planning to enter the United States by March with wearable devices that will provide customised data-based insights.
“We believe in the diverse team of iMumz. They are on a very focused trajectory to become the go-to platform for pregnant women by helping them in their journey,” Titan Capital partner Bipin Shah said.